Real GDP or Total Output in Any Year Is Equal

question 70

Multiple Choice

Real GDP or total output in any year is equal to:

• A)labour inputs divided by resource outputs.
• B)labour productivity multiplied by real output.
• C)worker-hours multiplied by labour productivity.
• D)worker-hours divided by labour productivity.

---

Definitions:

Majority

Majority refers to more than half of a particular group or the greater part of a total number, often used to describe the requirement for decision-making in democratic processes.

Collective Bargaining

The process where union representatives negotiate with employers on behalf of employees to establish wages, working conditions, and other employment terms.

Workers' Rights

Encompass a range of legal rights and protections afforded to workers, including the rights to safe working conditions, fair pay, and freedom from discrimination.

Neoliberal Market Ideology

An economic philosophy advocating for minimal state intervention in the economy, emphasizing free markets, privatization, and deregulation.